Intuitive Machines, a company that has made waves in the space industry with its commercial robotic lunar landers, is set to expand its presence in the market with an acquisition of Lanteris Space Systems. The deal, valued at $800 million, will catapult Intuitive Machines into becoming one of NASA's leading contractors for lunar missions.
Lanteris, a satellite manufacturer with a rich history dating back to 1957, will become the latest addition to Intuitive Machines' portfolio. With this acquisition, the company aims to expand its capabilities beyond its core competency in lunar missions to offer satellite manufacturing and space services.
The deal is expected to close early next year, subject to regulatory approvals and closing conditions. According to Steve Altemus, CEO of Intuitive Machines, the acquisition will make the company a "multi-domain space prime" with a presence in the national security space market.
Lanteris has been building satellites for the US Space Force, NASA, and commercial customers, including producing over 300 satellites in its nearly 70-year history. The company's expertise in satellite manufacturing will complement Intuitive Machines' capabilities, enabling the combined company to offer customers a one-stop shop for buying both spacecraft and data streaming services.
With this acquisition, Intuitive Machines is poised to become one of NASA's leading contractors, with two missions already completed and at least two more in development. The company has also won contracts from NASA to build a small constellation of satellites around the Moon and provide data links with spacecraft flying in high-altitude orbits.
The deal will not only bolster Intuitive Machines' balance sheet but also shore up its revenue growth, which is expected to reach $850 million, enough to become profitable. According to Altemus, Lanteris' acquisition marks a significant moment for Intuitive Machines as it transitions from a lunar company to a multi-domain space prime.
As the space industry continues to evolve, companies like Intuitive Machines and Lanteris are at the forefront of innovation and growth. With its acquisition of Lanteris, Intuitive Machines is poised to play a major role in shaping the future of space exploration and development.
Lanteris, a satellite manufacturer with a rich history dating back to 1957, will become the latest addition to Intuitive Machines' portfolio. With this acquisition, the company aims to expand its capabilities beyond its core competency in lunar missions to offer satellite manufacturing and space services.
The deal is expected to close early next year, subject to regulatory approvals and closing conditions. According to Steve Altemus, CEO of Intuitive Machines, the acquisition will make the company a "multi-domain space prime" with a presence in the national security space market.
Lanteris has been building satellites for the US Space Force, NASA, and commercial customers, including producing over 300 satellites in its nearly 70-year history. The company's expertise in satellite manufacturing will complement Intuitive Machines' capabilities, enabling the combined company to offer customers a one-stop shop for buying both spacecraft and data streaming services.
With this acquisition, Intuitive Machines is poised to become one of NASA's leading contractors, with two missions already completed and at least two more in development. The company has also won contracts from NASA to build a small constellation of satellites around the Moon and provide data links with spacecraft flying in high-altitude orbits.
The deal will not only bolster Intuitive Machines' balance sheet but also shore up its revenue growth, which is expected to reach $850 million, enough to become profitable. According to Altemus, Lanteris' acquisition marks a significant moment for Intuitive Machines as it transitions from a lunar company to a multi-domain space prime.
As the space industry continues to evolve, companies like Intuitive Machines and Lanteris are at the forefront of innovation and growth. With its acquisition of Lanteris, Intuitive Machines is poised to play a major role in shaping the future of space exploration and development.